This bill amends Minnesota Statutes 2024, section 272.01, subdivision 2, to introduce a new exemption for certain leased land. Specifically, it allows property owned by a nonprofit conservation organization to be leased, loaned, or otherwise made available to private individuals, corporations, or associations for grazing activities that align with the conservation objectives of the organization. This addition is marked as new legal language in the bill, while the previous provision regarding cooperative farming agreements has been deleted.

Additionally, the bill clarifies that taxes imposed on property used by private entities for profit will not apply to specific types of properties, including those related to public airports and certain municipal facilities. The effective date for this amendment is set for property taxes payable in 2026, ensuring that the changes will be implemented in the upcoming tax cycle.

Statutes affected:
Introduction: 272.01